HC Deb 22 March 1979 vol 964 cc1678-9
10. Mr. Michael Latham

asked the Chancellor of the Exchequer whether he will make a statement on his latest estimate of the size of the public sector borrowing requirement in (a) the current and (b) the next financial year.

Mr. Joel Barnett

A preliminary estimate of the PSBR for this year will be included in the Financial Statement and Budget Report. For the PSBR for 1979–80, I have nothing to add to the Chancellor of the Exchequer's comments to the House in the debate on 25 January.

Mr. Latham

Is it still the Government's view that next year the public sector borrowing requirement can be held at £8.5 billion, assuming an average earnings increase of 7 per cent.? If not, what do they intend to do about it?

Mr. Barnett

The hon. Gentleman and the House would do well to await the Chancellor of the Exchequer's Budget Statement.

Mr. Pavitt

In exercising his judgment on public sector borrowing and private expenditure, will the Chancellor take into account that this year we have spent privately £12,000 million on cigarettes, wine and gambling and that that is half as much again as the total public expenditure on the National Health Service? Ought not that to be taken into consideration in my right hon. Friend's judgment on his Budget Statement?

Mr. Barnett

I assure my hon. Friend that his comments and the many thousands of others are taken into account in my right hon. Friend's judgment.